Black Hills Co. (NYSE:BKH) Shares Bought by Phocas Financial Corp.

Phocas Financial Corp. increased its stake in Black Hills Co. (NYSE:BKH) by 40.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 182,635 shares of the utilities provider’s stock after acquiring an additional 52,800 shares during the quarter. Phocas Financial Corp.’s holdings in Black Hills were worth $11,163,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Pathway Financial Advisers LLC purchased a new position in Black Hills in the first quarter valued at about $31,000. Blue Trust Inc. grew its stake in shares of Black Hills by 84.9% in the 3rd quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock valued at $35,000 after buying an additional 265 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Black Hills in the third quarter worth approximately $45,000. Quarry LP raised its position in Black Hills by 158.0% during the second quarter. Quarry LP now owns 841 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 515 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. lifted its stake in Black Hills by 972.3% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 890 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 807 shares during the last quarter. 86.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BKH has been the subject of several analyst reports. Wells Fargo & Company lifted their price objective on shares of Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Scotiabank raised their price objective on Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $58.00.

Black Hills Trading Up 1.4 %

Black Hills stock opened at $62.98 on Tuesday. Black Hills Co. has a 52 week low of $49.33 and a 52 week high of $63.60. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.83 and a current ratio of 1.12. The firm has a market capitalization of $4.51 billion, a PE ratio of 16.93, a PEG ratio of 4.53 and a beta of 0.69. The business’s 50-day simple moving average is $60.56 and its 200-day simple moving average is $57.84.

Black Hills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Monday, November 18th will be paid a dividend of $0.65 per share. The ex-dividend date is Monday, November 18th. This represents a $2.60 annualized dividend and a yield of 4.13%. Black Hills’s dividend payout ratio is 69.89%.

Black Hills Company Profile

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. The company operates in two segments: Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 222,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,394 megawatts of generation capacity and 9,106 miles of electric transmission and distribution lines.